You’ve probably heard of the "80/20 Rule" many times before, or at the very least, you’re familiar with the concept. The 80/20 Rule refers to Pareto’s Principle, or Pareto’s Law. This is basically the observation that about 80% of outcomes or results are attributable to about 20% of inputs or activities.
It's named after the Italian economist Vilfredo Pareto, who developed a theory and formula which described that that twenty percent of the people in Italy owned eighty percent of the wealth. Following this, Dr. Joseph M. Juran attributed the 80/20 Rule to Pareto in the 1940’s and called it Pareto's Principle. It has since been applied to many fields of study, including economics, business, science, and sports.
Perhaps you have experienced this in different areas of your work or personal life, where a few things, or people, lead to the majority of outcomes (whether positive or negative). For example, have you ever felt like: